BSTP vs. DGRO
BSTP (Innovator Buffer Step-Up Strategy ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - BSTP is a Options Trading fund tracking the S&P 500, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Both are passively managed. Over the past 3 years, BSTP returned 12.60%/yr vs 16.30%/yr for DGRO. Their correlation of 0.81 means they have usually moved in the same direction. BSTP charges 0.89%/yr vs 0.08%/yr for DGRO.
Performance
BSTP vs. DGRO - Performance Comparison
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Returns By Period
In the year-to-date period, BSTP achieves a 6.36% return, which is significantly lower than DGRO's 13.39% return.
BSTP
- 1D
- 0.59%
- 1M
- 0.65%
- 6M
- 5.36%
- YTD
- 6.36%
- 1Y
- 13.82%
- 3Y*
- 12.60%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.59%
DGRO
- 1D
- -0.28%
- 1M
- 0.97%
- 6M
- 9.59%
- YTD
- 13.39%
- 1Y
- 24.21%
- 3Y*
- 16.30%
- 5Y*
- 11.08%
- 10Y*
- 13.44%
- ALL TIME*
- 12.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $73.89K | $125.57K | $154.80K | |
| $103.52M | $104.25M | $110.17M |
BSTP vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BSTP Innovator Buffer Step-Up Strategy ETF | 6.36% | 11.80% | 16.70% | 18.14% | -5.05% |
DGRO iShares Core Dividend Growth ETF | 13.39% | 15.69% | 16.62% | 10.47% | -0.13% |
Correlation
The correlation between BSTP and DGRO is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | 0.81 |
Over the past year, the correlation between BSTP and DGRO has dropped to 0.58 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
BSTP vs. DGRO — Risk / Return Rank
BSTP
DGRO
BSTP vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Buffer Step-Up Strategy ETF (BSTP) and iShares Core Dividend Growth ETF (DGRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BSTP | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.45 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 3.61 | -1.57 |
| Martin ratioReturn relative to average drawdown | 9.47 | 14.07 | -4.59 |
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Drawdowns
BSTP vs. DGRO - Drawdown Comparison
The maximum BSTP drawdown since its inception was -16.69%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for BSTP and DGRO.
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Drawdown Indicators
| BSTP | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.69% | -35.10% | +18.41% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -6.47% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -13.69% | -14.03% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.10% | — |
Current DrawdownCurrent decline from peak | -0.32% | -1.35% | +1.03% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -3.41% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.66% | -0.32% |
Volatility
BSTP vs. DGRO - Volatility Comparison
The current volatility for Innovator Buffer Step-Up Strategy ETF (BSTP) is 2.32%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 3.21%. This indicates that BSTP experiences smaller price fluctuations and is considered to be less risky than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSTP | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 3.21% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 6.74% | 7.12% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.55% | 9.61% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.02% | 13.79% | -1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.02% | 16.58% | -4.56% |
BSTP vs. DGRO - Expense Ratio Comparison
BSTP has a 0.89% expense ratio, which is higher than DGRO's 0.08% expense ratio.
Dividends
BSTP vs. DGRO - Dividend Comparison
BSTP has not paid dividends to shareholders, while DGRO's dividend yield for the trailing twelve months is around 1.89%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSTP Innovator Buffer Step-Up Strategy ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DGRO iShares Core Dividend Growth ETF | 1.89% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
Frequently Asked Questions
BSTP and DGRO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGRO has higher volatility (3.21%) compared to BSTP (2.32%). In terms of maximum drawdown, BSTP dropped -16.69% vs DGRO's -35.10%.
On 3-year performance, DGRO leads with 16.30% vs 12.60% for BSTP. On fees, DGRO is cheaper at 0.08% per year. On volatility, BSTP has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DGRO has performed better with a 16.30% return vs 12.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGRO is cheaper with a 0.08% expense ratio, compared with 0.89% for BSTP.
DGRO has the higher dividend yield at 1.89%, compared with 0.00% for BSTP.
BSTP is categorized as Options Trading, while DGRO is Large Cap Growth Equities. BSTP tracks S&P 500, while DGRO tracks Morningstar US Dividend Growth Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.89% for BSTP and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.44 vs 1.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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